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Opening an everyday bank account in Australia

Whether you’re planning to move to Australia to work, live or study, you’re going to need an everyday bank account. This checklist explains what an everyday account is, and how you could benefit from one.

Key features of an everyday bank account 

  • Everyday bank accounts give you access to your cash, money transfers, and will likely be the account your employer will use to pay your wages into if you’re working

  • Westpac Choice is an everyday bank account that delivers extra benefits for people who have arrived in Australia in the last 12 months

  • Westpac Choice offers no monthly account fees for new arrivals or full-time students, and bonus interest rates for 18–29-year-olds when used with a Westpac Life account

  • The Westpac Mobile Banking App has handy features, including Cardless Cash and PayID® to help you manage your money on the go

  • Security features include Card on Hold, Fingerprint Login, and Fraud Money Back Guarantee 

What is an everyday Australian bank account? 

You’re going to need a bank account when you move to Australia to help manage your day-to-day banking. In Australia, this type of account is known as a transaction account or everyday account. In other countries it might be known as a current account or checking account.

Why do you need an everyday bank account? 

An everyday transaction account is designed to be used – you guessed it – every day.


Everyday bank accounts with a local Australian bank will give you access to your cash, you can transfer money in and out of it and, if you’re working, it’ll be the account your employer will most likely deposit your wages into.


Westpac is Australia’s first bank, and has an everyday bank account called Westpac Choice, which offers additional benefits for people who have arrived in Australia in the last 12 months. 

How to apply for Westpac Choice

Once you’ve arrived in Australia, you can apply online for a Westpac Choice account in just a few minutes. After applying for the account online, you may need to verify your ID at one of our local branches before you start using your new account.


Verification documents include your passport and Australian residential address, a valid visa and confirmation of your arrival in Australia within the last six weeks.

Special features of Westpac Choice for new arrivals

Westpac Choice offers specific benefits for those who have just arrived in Australia within the last 12 months, including no monthly account fee for the first year.  

No monthly account fees 

Pay no account-keeping fees for your first year if you've arrived in Australia within the last 12 months. After that, we’ll continue to waive the fee if you meet certain criteria, such as minimum monthly deposits.  

No monthly account fees for students

You’ll also pay no account-keeping monthly fee if you’re a full-time student studying in Australia, for the duration of your studies. 

Enjoy all the benefits of a Westpac Choice bank account

From a handy mobile banking app to a range of top-notch security features, here are more of the ways Westpac Choice can help make banking better every day. 

No ATM fees 

As a Westpac Choice everyday bank account holder, you’ll pay no ATM fees to withdraw cash at most major bank ATMs in Australia (including Westpac, St. George, Bank of Melbourne and BankSA) when using your linked debit card. 

Bonus interest rates for 18–29-year-olds

If you’re aged 18-29, you can earn bonus interest when using Westpac Choice and Westpac Life savings accounts together.


Westpac Life is an account to help you reach your savings goals sooner by earning bonus interest every month you save.


It’s possible to earn a higher variable interest on your savings when you Spend&Save with the Westpac Choice everyday bank account plus Westpac Life savings account. 

Fee-free international transfers

When you bank with Westpac, you can send money to over 200 countries. You’ll pay no fees on international transfers when you send foreign currency overseas via Online Banking or the Westpac App.

A linked Debit Mastercard®

Use a physical Debit Mastercard linked to your Westpac Choice account to shop securely online, withdraw money at ATMs, or tap and go in-store (on purchases under $100).  Enjoy unlimited electronic transactions.

A digital debit card

There’s also a digital version of your card accessible via the Westpac App. Your instant digital card has all the benefits of your physical card, so you can use it to shop online, pay bills, make in-app purchases, set up direct debit payments, and add it to your smartphone or watch’s digital wallet to shop in-store.


You can access your digital card before your Debit Mastercard arrives in the mail, so you can start using it straightaway. 

Apple Pay, Google Pay and more

Your smart phone or wearable device becomes your wallet. Account holders can use Apple Pay, Google Pay and more, as fast and secure ways to pay in-store and online, using your favourite mobile devices.


Westpac’s Mobile Banking App

The beauty of having a Westpac Choice everyday account is that you can manage your money on the go with the Westpac Mobile Banking App. The App dashboard has some handy budgeting tools for you to track your spending each month, compare your spending across categories, and follow your ins and outs. 

Cardless cash 

Cardless Cash1 is a feature that’s available 24/7 in the Westpac App, and it lets you withdraw cash from select ATMs without a card. You can also get cash to others by sending them a cash code to use. 

Pay ID® 

PayID is free to set up and use and enables people to pay you using just your mobile number.


Your mobile number is as unique as your BSB and account number, and using it to receive money is safe, fast, and simple. You can register for PayID in online banking or the Westpac App.

Peace of mind with top-notch security features

As well as being simple and seamless, Westpac Choice has the following features to ensure security:

Card on Hold

If you’ve misplaced your card and there’s a chance you’ll find it, you can temporarily lock it to keep it secure while you look for it. Digital cards, mobile wallets and wearables are also locked, to save you the hassle of cancelling your card. And when you find your card? You can unlock it anytime, 24/7. 

Fingerprint Login

Signing into the Westpac App can be done safely and securely using fingerprint login or facial recognition if your device supports this functionality, to ensure only you have access to your personal banking information. 

Dynamic CVCs

A dynamic CVC is a temporary Card Verification Code generated in the Westpac App. Because the code changes every 24 hours, it’s very secure. In fact, our research shows that dynamic CVC reduces fraud by 80 per cent! 

Fraud Money Back Guarantee 

Fraud is when someone gains access to your accounts or bank details for the purpose of making illegal transactions. Westpac has 24/7 fraud monitoring to help keep customers safe, as well as a Fraud Money Bank Guarantee to ensure you’ll be reimbursed for any unauthorised card transactions.

To sum up

Coming to Australia for a long stay or moving to Australia permanently should be an exciting time. There will be plenty of aspects of your move to organise, but your everyday banking can be straightforward and simple with Westpac Choice. 

Things you should know

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice. 


1. Cardless Cash is available on eligible Westpac everyday accounts with a linked debit card. Limit of 3 withdrawal transactions per day applies, subject to $500 daily withdrawal limit and $1,000 weekly withdrawal limit. Only available at Westpac Group ATMs or select Westpac Group partner ATMs in Australia. To access Cardless Cash on your mobile you must be registered to use Online Banking and download the Westpac App. You'll also need the Westpac App (version 6.1 or above) installed on your iPhone. You must be 18 years or older to use Cardless Cash.